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Donald Trump Has Stake In Hydroxychloroquine Drugmaker: Report

Discussion in 'BBS Hangout: Debate & Discussion' started by T_Man, Apr 7, 2020.

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  1. T_Man

    T_Man Contributing Member

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    https://www.yahoo.com/huffpost/donald-trump-stake-company-hydroxychloroquine-112913777.html

    President Donald Trump reportedly owns a stake in a company that produces hydroxychloroquine, the anti-malaria drug he has repeatedly touted as a coronavirus treatment even though his experts say there’s no strong evidence it works.

    Trump “has a small personal financial interest” in Sanofi, the French drugmaker that makes Plaquenil, the brand-name version of hydroxychloroquine, The New York Times reported Monday.

    In addition, Sanofi’s largest shareholders include a mutual fund company run by major Republican donor Ken Fisher, the paper said. Trump’s three family trusts, as of last year, each had investments in a mutual fund whose largest holding was Sanofi, according to the Times. Commerce Secretary Wilbur Ross also had ties to the drugmaker, the Times reported.

    Trump’s “assertiveness” in promoting the drug contrary to the recommendation of top health experts “has raised questions about his motives,” the Times noted.

    A chorus of Trump supporters with no medical expertise have backed the president’s urging of doctors to treat COVID-19 patients with the drug, including his personal lawyer, Rudy Giuliani, and Fox News host Sean Hannity.

    In the face of warnings from top infectious disease expert Dr. Anthony Fauci that the drug’s safety and effectiveness are uncertain in treating COVID-19, Trump has continued to laud its supposed benefits.

    “What do you have to lose?” he asked at a press briefing this week urging those sick with the virus to take the drug.

    Turns out plenty.

    “There could be deaths,” American Medical Association President Dr. Patrice Harris said. “This is a new virus, and so we should not be promoting any medication or drug for any disease that has not been proven and approved by the FDA.”

    Generic drugmakers also are gearing up to produce hydroxychloroquine pills. One of those companies was co-founded by Trump golfing buddy Chirag Patel, according to the Times.

    The White House didn’t immediately answer HuffPost’s request for comment.

    John Dillard, a spokesperson for Fisher Investments, called the Times article a “false report” and said Sanofi “is neither a material holding of Fisher Investments nor of Ken Fisher personally.” He also took issue with the characterization of his boss as a Republican donor, saying Fisher also had contributed to Democrats in the past.


    T_Man
     
    #1 T_Man, Apr 7, 2020
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  2. DaDakota

    DaDakota If you want to know, just ask!

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    Follow the money with this jackass every time.

    DD
     
    #2 DaDakota, Apr 7, 2020
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  3. dobro1229

    dobro1229 Contributing Member

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    Why am I not the least bit surprised?
     
    #3 dobro1229, Apr 7, 2020
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  4. AB

    AB Contributing Member

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    These are extremely vague insinuations. They will distract from the main problems he pose.

    I personally don't think trump's double down on hydrochloroquine is based on financial interests.

    It is his messaging. Like the wall. The wall is not going to stop the illegal entry and financially stupid decision but that gives him messaging . There are 100 different good ideas but as long as keep saying wall , he will be connected to tough on illegal immigration.
    Similarly, as long as he keeps touting that medicine, he will be connected to positive outlook. even though there is no basis. He keeps repeating this over and over even though it is not medically smart.

    They are never going to complete the wall nor are they going to make this a staple medicine for control of corona virus.

    but he can always claim success and his followers can tout his success. There is enough 'may be may be not' in it.
     
    #4 AB, Apr 7, 2020
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  5. Andre0087

    Andre0087 Member

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    I'm not sure he has a stake in it or not but he's already profited in so many different ways during his presidency. He can get on TV, lie his ass off about anything, and the markets will jump accordingly. Not to mention his hotels, insider information, and this 2 trillion dollar slush fund that was approved by Congress.
     
    #5 Andre0087, Apr 7, 2020
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  6. vlaurelio

    vlaurelio Contributing Member

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    LOL everything he does is about his personal interest
     
    #6 vlaurelio, Apr 7, 2020
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  7. T_Man

    T_Man Contributing Member

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    I saw that @Rocket River and @jo mama also posted about this in different Threads.....

    T_Man
     
    #7 T_Man, Apr 7, 2020
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  8. jiggyfly

    jiggyfly Member

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    Why don't you think it has nothing to do with financial interest?

    Why do you think the wall has nothing to do with financial interest?

    It could be a good political message and have financial gains the 2 are not mutually exclusive.

    If we have learned anything its that financial interests are Trumps main motivations for everything.
     
    #8 jiggyfly, Apr 7, 2020
  9. smoothie_king

    smoothie_king Member

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    Trump has a right to invest his money in the free market trade.
     
    #9 smoothie_king, Apr 7, 2020
  10. T_Man

    T_Man Contributing Member

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    NOPE!!!!

    Not as long as he's the President....

    If he wants to do that, then give up the chair..

    T_Man
     
    #10 T_Man, Apr 7, 2020
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  11. hooroo

    hooroo Member

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    trump barely has any holdings in sanofi. the push for the malaria drug and blaming china right now is just obfuscation.

    not saying there aren't any untoward influences. novartis & guiliani are looking very shady.
     
    #11 hooroo, Apr 7, 2020
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  12. AB

    AB Contributing Member

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    Yes, it is not mutually exclusive, but there is no significant upside financially. The article specifically mentions 'Small' position.

    I am not even sure what kind of position he may have but I am pretty sure the way he is touting it has a messaging impact and in line with how he dumb-down a discussion. He is easily moving the focus from his failures. I would like the discussion to stay there
     
    #12 AB, Apr 7, 2020
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  13. saitou

    saitou J Only Fan

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    Agree with you, unless there's new evidence that he holds a larger stake in it, this seems more like politics and less personal financial gain. The way trusts and mutual funds work, his trusts probably own a bit of all the major drug makers. Sanofi has a huge market cap and is prob included in lots of ETFs. There have been other, much more egregious attempts by him to profit from his presidency.
     
    #13 saitou, Apr 7, 2020
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  14. jiggyfly

    jiggyfly Member

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    How is it mutually exclusive?

    You can push a political message and still profit.

    Just because it's a small stake does not mean you cannot get big payouts.

    Anyway let's just agree to disagree.
     
    #14 jiggyfly, Apr 7, 2020
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  15. T_Man

    T_Man Contributing Member

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    Therein lies the problem....

    He has done so much corruption in the oval office that even something as this would have gotten any other President removed from office.. But he keeps lower the scaling that most people just ignore the small things...

    He's doing exactly what he planned to do.. keep lowering the bar....

    T_Man
     
    #15 T_Man, Apr 7, 2020
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  16. jiggyfly

    jiggyfly Member

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    Did you pick up on the part where the person who runs the fund is a Trump donor?

    He can be profiting in more ways than his current stake in the company.

    This is the same guy (Trump) who got upset that Cohen was not giving him a cut of his kickbacks.
     
    #16 jiggyfly, Apr 7, 2020
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  17. dachuda86

    dachuda86 Member

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    I bet all those Doctors around the world using it are also in on it with Trump. Shake your fist!
     
    #17 dachuda86, Apr 7, 2020
  18. saitou

    saitou J Only Fan

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    I wouldn't rule out those around the president having a financial interest in the company, but Trump in this case doesn't seem motivated by personal financial gain. For people that own run of the mill ETFs or mutual funds, the article sounds like its trying to make a mountain out of a molehill, and detracts from the biggger issues that @Andre0087 has listed.
     
    #18 saitou, Apr 7, 2020
  19. AB

    AB Contributing Member

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    It is not about lowering the bar but trying to not dilute the key issues.

    It is almost like talking about a possible parking ticket when we are looking at a person for burglary, IMO. Surprisingly, these kind of things humanize him :)
     
    #19 AB, Apr 7, 2020
  20. dobro1229

    dobro1229 Contributing Member

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    This has nothing to do with anything the OP is posting about. You know better, and know that a president having financial interest in a "POTENTIAL" drug that can be part of the treatment for a global pandemic during his presidency... AND OPENLY PROMOTING THE DRUG prior to trials that prove that is morally corrupt, and should be illegal if it is not already.

    The OP's point has nothing to do with Hydroxychoroquine's effectiveness as a Covid treatment.

    I'm sure if HydroxyC turned out to be the ultimate cure for Covid T-Man would welcome that outcome. I have no idea why anytime this subject comes up, you react in such a defensive way to this drug. Makes no sense unless you just want Trump to be right to own the libs.

    You know what he's doing by promoting this drug when it is not proven with extensive trials is wrong, and doing so when he has some financial incentive is horrendous if not criminal.
     
    #20 dobro1229, Apr 7, 2020
    Last edited: Apr 7, 2020
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